Turkey economy posts powerful Q2 rebound after last year’s slump ...Qatar

Gulf Times - News
Turkey economy posts powerful Q2 rebound after last year’s slump
source : Gulf Times ( Qatar ) () 3
Turkey’s economy grew a massive 21.7% year-on-year in the second quarter, as expected, official data showed on Wednesday, rebounding powerfully after a sharp slowdown a year earlier driven by Covid-19 restrictions. It expanded 0.9% compared to the previous quarter on a seasonally and calendar-adjusted basis, data from the Turkish Statistical Institute showed. The lira firmed as far as 8.29 after the figures from a close of 8.32. However, the boom in economic activity is feeding into — and in turn being eroded by — double-digit inflation. August’s inflation reading, due on Friday, is expected to stay close to July’s 18.95%. Treasury and Finance Minister Lutfi Elvan, commenting on the growth

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